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(NEW YORK)–After the recent crash in both the market and crypto currencies a bottom may be trying to form in Bitcoin prices, which could provide a buying opportunity to buy bitcoin stocks again.
Ludlow Research stated in note to subscribers that Bitcoin’s recent bounce off $6000, and consolidation around the $7000 to $8000 level could be an indicator of a potential short-term floor in Bitcoin, and thus could provide an opportunity to look at Bitcoin stocks again after their recent correction.
As the market began selling off on fear of rising interest rates some traders used their Bitcoin crypto holdings as first source of liquidity to build up cash positions, and for potential margin calls.
Bitcoin, along with the overall market, was extremely over bought, so in long run this sharp drop in crypto currencies was actually a healthy event to help wipe out the excess speculation that had been built up in the market over the prior few months. If you are interested in keeping up with bitcoin news, you might want to find out all about bitcoin at btcnn.com or a similar site for information.
Ludlow Research says there very well could be a re-test of its recent lows around the $6000 mark, but any hold of that bottom could place new bids and retail interest back into the Bitcoin stock sector.
Bitcoin may have formed a floor around the $6000 mark, but don’t look for it to suddenly begin a frenzied run like we saw before, but rather steady consolidation between $7000 to $9500 for a period to help build back confidence in the market would be the best thing. To keep an eye on the price, you could use bitcoin.com.au’s price statistics as your primary source.
For this reason, traders may want to start looking at using a Bitcoin trading platform to get some Bitcoin stocks again as many of these are trading in some instances 50% to 70% off their recent highs.
Bitcoin Stocks to Watch
– Riot Blockchain (RIOT)
– DPW Holdings (DPW)
– Marathon Patent Group (MARA)
– Integrated Ventures (INTV)
– ChineseInvestors (CIIX)
– AppSwarm (SWRM)
– Epazz (EPAZ)
About Ludlow Research
Ludlow Research is a New York based equity research firm that focuses on providing research coverage and investor awareness services to emerging small-cap companies. For over 12 years we have worked to provide our readers with a simple way of evaluating the current and potential value of small-cap companies, while garnering these clients greater market awareness to new investors. For more information please visit www.ludlowresearch.com
This is NOT a solicitation to Buy or Sell any security, but rather is for informational purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Wall Street Newscast (“WSNC”) does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. WSNC, its affiliates, or directors, may or may not hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when reviewing this information. In Compliance with SEC Rule 17B Wall Street Newscast was compensated three thousand five hundred dollars from AppSwarm, three thouands dollars from Integrated Ventures, and thirty thousand restricted shares from ChineseInvestors for ongoing media advisory services, and thus should be considered a possible conflict of interest when reviewing this report and information. WSNC, or its affiliates, may hold a position in above securities from time to time, and thus should be considered a possible conflict of interest when reviewing this report and information. These investments may involve a high degree of risk, thus investors are highly encouraged to consult with a financial advisor before any and all investments.
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